YFI Governance Community Vote to Mint 6,666 Tokens Passes

YFI Governance Community Vote to Mint 6,666 Tokens Passes

By Abhimanyu Krishnan | News | 3 Feb 2021


On Feb. 3, the Yearn.finance (YFI) governance community passed a proposal to mint 6,666 YFI tokens, a 22% increase in the token’s total supply. 

  • The decision to add more YFI tokens first saw discussion on Jan. 21, with the change receiving near unanimous approval
  • YFI core developer banteg posted on the update on governance forums, saying that the proposal had passed with 83.46% of votes in favor of the change
  • The new tokens will be budgeted towards funding Yearn.finance’s future, with 1/3rd going towards to key contributors as vesting retention packages and the remaining towards the Yearn.finance treasury
  • Tentative fund allocations include contributor incentivization, liquidity mining programs, staking rewards and protocol mergers & talent acquisitions
  • One of the YFI tokens distinctions is its low total supply -- the 30,000 cap has played a part in the astronomical value it has attained over the past 12 months, which is $32,161 at the time of publishing
  • Yearn.finance is more of the DeFi market’s most prominent projects, and has partnered with many others, including SushiSwap, Cover Protocol and Akropolis

Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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